China's remarkable reform manifesto

First, expect a new wave of Chinese infrastructure investment and likely sharp increase in household consumption. What follows that could be the biggest shift in the country’s communist history.

So China’s President, Xi Jinping, has now released the real communiqué. The first one, it turns out, was just a 3500-word preamble; the second one is the real one and contains a remarkable set of specific measures that suggest China is indeed entering a new era of reform.

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